Lumen Technologies (NYSE:LUMN) Sets New 52-Week Low - Here's Why

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $3.42 and last traded at $3.53, with a volume of 8428728 shares traded. The stock had previously closed at $3.57.

Analysts Set New Price Targets

Several research firms have recently commented on LUMN. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Wells Fargo & Company upgraded shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target on the stock in a research report on Friday, February 21st. Finally, Citigroup raised Lumen Technologies from a "neutral" rating to a "buy" rating and cut their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $4.59.

Lumen Technologies Price Performance

The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The company has a market cap of $3.87 billion, a P/E ratio of -75.58 and a beta of 1.34. The firm has a 50 day moving average of $4.07 and a 200-day moving average of $5.47.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.16. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. The business's revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) EPS. On average, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Hedge Funds Weigh In On Lumen Technologies

Several institutional investors have recently bought and sold shares of LUMN. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Lumen Technologies by 3.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company's stock valued at $408,000 after acquiring an additional 2,220 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Lumen Technologies by 7.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock worth $182,000 after buying an additional 2,457 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Lumen Technologies by 20.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock worth $78,000 after buying an additional 2,489 shares during the period. Avior Wealth Management LLC increased its position in shares of Lumen Technologies by 6.8% in the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company's stock valued at $222,000 after acquiring an additional 2,657 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Lumen Technologies by 15.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company's stock worth $111,000 after acquiring an additional 2,844 shares during the last quarter. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Company Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.